H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Cormedix Inc (CRMD) today and set a price target of $3.50. The company’s shares closed yesterday at $1.86.
Selvaraju noted:
“We continue to believe Neutrolin could be filed for approval later this year and might be approved in an accelerated manner, permitting a U.S. launch using a small, hospital- focused specialty sales force by late 2019. We reiterate our Buy rating and 12-month target of $3.50 per share.”
According to TipRanks.com, Selvaraju ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -12.3% and a 31.4% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
Currently, the analyst consensus on Cormedix Inc is a Moderate Buy with an average price target of $4.75.
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The company has a one-year high of $2.74 and a one-year low of $0.17. Currently, Cormedix Inc has an average volume of 3.11M.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CRMD in relation to earlier this year.
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CorMedix, Inc. operates as a pharmaceutical and medical device company that seeks to in-license, develop and commercialize prophylactic and therapeutic products for the prevention and treatment of infectious and inflammatory diseases.
